Did a Second Nation Actually Just Make Bitcoin Legal Tender?

The Breakdown

Blockworks

Business, Investing

4.8 • 806 Ratings

🗓️ 26 April 2022

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

This episode is sponsored by Nexo.io, Arculus and FTX US. On today’s episode, NLW digs into rumors that the Central African Republic has adopted bitcoin as legal tender. He also looks at Panama’s crypto legislation, which has moved forward out of committee. Overall, he explores the state of the nation-state adoption narrative of bitcoin and crypto. - From cash to crypto in no time with Nexo. Invest in hot coins and swap between exclusive pairs for cash back, earn up to 17% interest on your idle crypto assets and borrow against them for instant liquidity. Simple and secure. Head on to nexo.io and get started now. - Arculus™ is the next-gen cold storage wallet for your crypto. The sleek, metal Arculus Key™ Card authenticates with the Arculus Wallet™ App, providing a simpler, safer and more secure solution to store, send, receive, buy and swap your crypto. Buy now at amazon.com. - FTX US is the safe, regulated way to buy Bitcoin, ETH, SOL and other digital assets. Trade crypto with up to 85% lower fees than top competitors and trade ETH and SOL NFTs with no gas fees and subsidized gas on withdrawals. Sign up at FTX.US today. - Consensus 2022, the industry’s most influential event, is happening June 9–12 in Austin, Texas. If you’re looking to immerse yourself in the fast-moving world of crypto, Web 3 and NFTs, this is the festival experience for you. Use code BREAKDOWN to get 15% off your pass at www.coindesk.com/consensus2022. - Enjoying this content? SUBSCRIBE to the Podcast Apple: https://podcasts.apple.com/podcast/id1438693620?at=1000lSDb Spotify: https://open.spotify.com/show/538vuul1PuorUDwgkC8JWF?si=ddSvD-HST2e_E7wgxcjtfQ Google: https://podcasts.google.com/feed/aHR0cHM6Ly9ubHdjcnlwdG8ubGlic3luLmNvbS9yc3M= Join the discussion: https://discord.gg/VrKRrfKCz8 Follow on Twitter: NLW: https://twitter.com/nlw Breakdown: https://twitter.com/BreakdownNLW - “The Breakdown” is written, produced by and features Nathaniel Whittemore aka NLW, with editing by Rob Mitchell, research by Scott Hill and additional production support by Eleanor Pahl. Jared Schwartz is our executive producer and our theme music is “Countdown” by Neon Beach. The music you heard today behind our sponsor is “I Don't Know How To Explain It” by Aaron Sprinkle. Image credit: Adrienne Surprenant/Bloomberg via Getty Images, modified by CoinDesk. Join the discussion at discord.gg/VrKRrfKCz8.

Transcript

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0:00.0	It's pretty clear that people aren't bidding on Bitcoin right now because they expect more
0:03.7	treasury announcements or more nation-level adoption.
0:06.5	But that's a lot different than being willing to write off narratives in terms of their
0:10.4	place as a long-term reason and motivation for Bitcoin as a whole.
0:14.2	It's entirely possible that despite the fact that they are not driving markets right now,
0:19.3	treasury adoption among corporations and nation-state
0:22.0	level adoption for a variety of reasons could be some of the most powerful forces for shaping
0:26.9	Bitcoin's future. Welcome back to The Breakdown with me, NLW. It's a daily podcast on macro,
0:35.3	Bitcoin, and the big-pict picture power shifts remaking our world.
0:39.3	The breakdown is sponsored by nexo.io, Arculus, and FTX, and produced and distributed by CoinDesk.
0:47.0	What's going on, guys? It is Monday, April 25th. And today, we are digging into the question of whether a second country has actually made Bitcoin legal tender, as was all the chatter on Bitcoin Twitter this weekend.
1:01.9	First, however, a few housekeeping notes. There are two ways to listen to the breakdown podcast.
1:07.8	You can either subscribe via the Coin Desk Crypto Podcast Network feed, which has this show,
1:12.8	plus other great Coin desk shows, or if you just want the breakdown, you can listen to the
1:17.2	breakdown only feed. They both come out the same day with CoinDesk's feed coming out in the
1:21.5	afternoon and the breakdown only feed coming out in the evening. In any case, if you're enjoying
1:26.2	the show, I would love if you left a rating or a review, or if you want to get deeper into the evening. In any case, if you're enjoying the show, I would love if you left a rating
1:28.1	or a review, or if you want to get deeper into the conversation, come join us on the Breakers
1:33.1	Discord. The Discord is at bit.ly slash breakdown pod. Lastly, a disclosure, as always, in addition to them
1:40.7	being a sponsor of the show, I also work with FTX. So here's a pattern that I've
1:46.2	observed with a few of the last big Bitcoin narratives. First, a narrative emerges around what might
1:53.0	drive Bitcoin adoption. That narrative is driven by some combination of speculation and chatter
	...

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